Please answer all parts (:

Use the information below to answer questions 1a-1d.

Black Inc. provided you with the following information for 2021:

Sales $2,742,000

Cost of sales 1,839,000

Selling, general, and administrative expenses

(includes depreciation expense of $150,000) 674,000

Accounts receivable, net, 1/1/21 96,000

Accounts receivable, net, 12/31/21 84,000

Inventory 1/1/21 102,000

Inventory 12/31/21 125,000

Prepaid insurance 1/1/21 22,000

Prepaid insurance 12/31/21 15,000

Accounts payable 1/1/21 92,000

Accounts payable 12/31/21 87,000

Unearned revenue 1/1/21 15,000

Unearned revenue 12/31/21 12,000

Accrued selling, general, and administrative expenses payable: 1/1/21 78,000

Accrued selling, general, and administrative expenses payable 12/31/21 65,000

Dividends payable 1/1/21 4,000

Dividends payable 12/31/21 3,000

Net income 148,000

Retained earnings 1/1/21 865,000

Retained earnings 12/31/21 980,000

1a. How much cash was paid for dividends in 2021?

1. $31,000.
2. $33,000.
3. $32,000.
4. $34,000.

1b. How much cash was received from customers if customers paid $30,000 during 2021 for goods in advance of delivery?

1. $2,754,000.
2. $2,751,000.
3. $2,721,000.
4. $2,727,000.

1c. How much cash was paid for selling, general, and administrative expenses if $25,000 was paid for prepaid insurance during 2021?

1. $537,000.
2. $531,000.
3. $530,000.
4. $512,000.

1d. How much cash was paid to suppliers during 2021?

1. $1,811,000.
2. $1,862,000.
3. $1,857,000.
4. $1,867,000.